American news agency, Bloomberg, has described President Muhammadu Buhari\u2019s record over the last four years as discouraging.<\/p>\n
The New York-based international news agency further stated that it wonders if \u2018Baba Go Slow\u2019 \u201cis up to the task\u201d of reviving the economy in his second term.<\/p>\n
The news agency noted that in the year 2000, over 1.4 billion people lived at or below the global poverty line of $1.90 a day.<\/p>\n
In its editorial published on April 7, 2019, Bloomberg stated that one of humanity\u2019s most hopeful developments in recent decades has been the dramatic drop in extreme poverty, adding that Nigeria needs growth to defuse poverty time.<\/p>\n
It added, \u201cToday, the number is about 600 million. This remarkable change is mainly due to growth in China and India. Much of sub-Saharan Africa, particularly Nigeria, has failed to share in the success.<\/p>\n
\u201cA decade ago, Nigeria had far fewer people in extreme poverty than either China or India; today, according to data compiled by the World Data Lab, it has more than both combined. The count stands at more than 90 million, and has risen both in absolute terms and as a share of the total.<\/p>\n
\u201cNigeria\u2019s young and fast-growing population is projected by the United Nations to double in size by 2050, making it the world\u2019s third-biggest. Even assuming that the proportion of Nigerians living in extreme poverty stops rising as quickly as it has in recent years, it\u2019s on course to remain extraordinarily high for the foreseeable future.<\/p>\n
\u201cNigeria\u2019s success or failure in confronting extreme poverty will be pivotal for the rest of Africa, too \u2014 partly because of its huge population but also because of its outsize influence over its neighbors.<\/p>\n
\u201cThe government led by President Muhammadu Buhari, recently re-elected to a second and final four-year term, bears a grave responsibility. One wonders whether a politician known as \u201cBaba Go Slow\u201d is up to the task.<\/p>\n
\u201cHis record over the last four years is discouraging. Economic growth has barely recovered following the 2014 crash in the price of oil, which remains Nigeria\u2019s biggest export and source of government revenue.<\/p>\n
\u201cPer capita gross domestic product is less than it was when he took office. Joblessness has more than tripled. Efforts to spur agriculture and other non-oil parts of the economy have failed. Foreign direct investment has fallen by more than half since 2010.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
American news agency, Bloomberg, has described President Muhammadu Buhari\u2019s record over the last four years as discouraging. The New York-based international news agency further stated that it wonders if \u2018Baba Go Slow\u2019 \u201cis up to the task\u201d of reviving the economy in his second term. The news agency noted that in the year 2000, over […]<\/p>\n","protected":false},"author":62,"featured_media":2065,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[97,106,366,235],"class_list":["post-8024","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-buhari","tag-economy","tag-investment","tag-president"],"yoast_head":"\n